Will the cost of 1 AU token be equal to 1 gram of gold?
This information is indicated on the project website.
Garnex leverages real-world assets to provide price stability to digital assets. Based on 1:1 (1/1000 oz/AU) gold/ounce allocation from all Garnex mined gold, GLD creates a true store of value and extends this offering to the international market creating one of the first globally accessible on-ramps for investors and speculators to gain exposure to above-ground gold & commodities.
That is, for each purchased token, you redeem gold and will keep it in the bank?